The oil marketing companies (OMCs) kept petrol, diesel prices on pause on Saturday for the third straight day.
Accordingly, the price of petrol and diesel was static at Rs 101.34 and Rs 88.77 per litre in Delhi, as per Indian Oil Corporation, the country's largest fuel retailer.
In Mumbai, the petrol price was unchanged at Rs 107.39 per litre on Saturday. The cost of diesel was stable at Rs 96.33 a litre.
The prices of petrol and diesel are reviewed by oil marketing companies such as state-run Indian Oil Corporation Limited (IOCL), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) on a daily basis and any revision is implemented from 6 am in the morning.
Oil companies revise rates of petrol and diesel daily based on the average price of benchmark fuel in the international market in the preceding 15-days, and foreign exchange rates.
Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges. Rajasthan levies the highest value-added tax (VAT) on petrol in the country, followed by Madhya Pradesh and Maharashtra.
(Edited by : Anshul)